IRA Capital Buys San Diego Community
Ziegler served as exclusive financial advisor in the successful sale of St. Paul’s Plaza, a 155-unit seniors housing community located in Chula Vista, California. The seller was St. Paul’s Senior Services, a not-for-profit organization that was looking to expand in PACE (Program of All-Inclusive Care for the Elderly) as well as provide more affordable seniors housing and healthcare solutions. Built in 2015 on 4.5 acres in the affluent suburb of San Diego, the Class-A community features 155 units of independent living, assisted living and memory care. There are 71 studio, 81 one-bedroom, and two two-bedroom options. Plus, there is room for expansion. It was decently occupied and generated... Read More »
Strawberry Fields Acquiring 9 SNFs
Strawberry Fields REIT entered into a purchase and sale agreement with an unaffiliated seller to acquire nine skilled nursing facilities. The facilities comprise 686 beds and will be purchased for $59 million (including certain consulting fees), $86,000 per bed, payable at closing. The company intends to utilize its current working capital and funds provided by a third-party lender to make payment for the purchase. Closing is anticipated to occur on or before July 1. Eight of the facilities will be leased to the Tide Group and added to the master lease Strawberry Fields entered into in August 2024. The master lease will remain materially unchanged other than resetting the lease... Read More »
Institutional Group Acquires in Wisconsin and Assumes HUD Debt
Evans Senior Investments facilitated the sale of two skilled nursing facilities in Milwaukee, Wisconsin. The seller was a local group of individual owners with long-standing ties to the facilities. Seeking an exit from the skilled nursing sector, they engaged ESI to identify a qualified operator capable of assuming the HUD-insured mortgages and navigating the approval process in Wisconsin. The facilities, which feature 172 beds and were operating at breakeven at the time of sale, garnered interest from both regional and national buyers. The ultimate buyer, an established institutional group with a growing footprint in the Midwest, saw the transaction as an opportunity to expand its... Read More »
SLIB Handles Missouri Sale to Willow Ridge
Willow Ridge Senior Living acquired another seniors housing community, adding Garden Plaza to its growing portfolio. Built in 2011, the community features 102 assisted living/memory care units and 12 independent living patio homes in Florissant, Missouri. It will be rebranded as Fields of Florissant. Willow Ridge made the acquisition in partnership with a growing private equity group. Jeff Binder and Dave Balow of Senior Living Investment Brokerage represented the seller, a regional owner/developer of senior care properties that was exiting to focus on other real estate holdings. The purchase price was not disclosed. In recent months, Willow Ridge has also added Village at Maiden... Read More »
Knapp-Stahler Group Executes Speedy Sale
With a state-imposed operator transition deadline approaching, a regional owner successfully sold its 83-unit assisted living/memory care community in Chico, California, to another regional owner/operator with the help of Chad Mundy and Nick Stahler of The Knapp-Stahler Group at Marcus & Millichap. Built in 2001, Windchime of Chico features 120 licensed beds of assisted living and memory care with lakefront views, multiple common areas and a central courtyard. It was operated by a third-party manager. However, it was not performing well, with occupancy below 60% and a substantial operating loss, in addition to the imminent operator transition. There was also HUD debt secured by the... Read More »Schedule a demo
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